Happy Forgings IPO vs Suraj Estate Developers IPO

Comparision between Happy Forgings IPO and Suraj Estate Developers IPO.

IPO Details

Happy Forgings IPO is a Mainline Book Built Issue IPO proposed to list at BSE, NSE while Suraj Estate Developers IPO is a Mainline Book Built Issue proposed to list at BSE, NSE.

	Happy Forgings IPO	Suraj Estate Developers IPO
Logo
Issue Category	Mainline	Mainline
Issue Type	IPO	IPO
Process Type	Book Built Issue	Book Built Issue
Listing At	BSE, NSE	BSE, NSE
Lead Managers	Jm Financial Limited Axis Capital Limited Equirus Capital Private Limited Motilal Oswal Investment Advisors Limited	Iti Capital Ltd Anand Rathi Securities Limited
Registrar	Link Intime India Private Ltd	Link Intime India Private Ltd
Market Maker
DRHP	DRHP	DRHP
RHP	RHP	RHP
Anchor Investor	Anchor Investor	Anchor Investor
IPO Allotment URL	IPO Allotment URL	IPO Allotment URL

Issue Size and Price

The total issue size of Happy Forgings IPO is up to ₹1,008.59 Cr whereas the issue size of the Suraj Estate Developers IPO is up to ₹400.00 Cr. The final issue price of Happy Forgings IPO is ₹850.00 per share and of Suraj Estate Developers IPO is ₹360.00 per share.

	Happy Forgings IPO	Suraj Estate Developers IPO
Face Value	₹2 per share	₹5 per share
Issue Price (Lower)	₹808.00 per share	₹340.00 per share
Issue Price (Upper)	₹850.00 per share	₹360.00 per share
Issue Price (Final)	₹850.00 per share	₹360.00 per share
Discount (Retail)
Discount (Employee)
Market Lot Size	17 shares	41 shares
Fresh Issue Size	47,05,882 shares	1,11,11,111 shares
Fresh Issue Size (Amount)	up to ₹400.00 Cr	up to ₹400.00 Cr
OFS Issue Size	71,59,920 shares
OFS Issue Size (Amount)	up to ₹608.59 Cr
Issue Size Total	1,18,65,802 shares	1,11,11,111 shares
Issue Size Total (Amount)	up to ₹1,008.59 Cr	up to ₹400.00 Cr

IPO Timetable

Happy Forgings IPO opens on Dec 19, 2023, while Suraj Estate Developers IPO opens on Dec 18, 2023. The closing date of Happy Forgings IPO and Suraj Estate Developers IPO is Dec 21, 2023, and Dec 20, 2023, respectively.

	Happy Forgings IPO	Suraj Estate Developers IPO
Anchor Bid Date	Dec 18, 2023	Dec 15, 2023
Issue Open	Dec 19, 2023	Dec 18, 2023
Issue Close	Dec 21, 2023	Dec 20, 2023
Basis Of Allotment (Tentative)	Dec 22, 2023	Dec 21, 2023
Initiation of Refunds (Tentative)	Dec 26, 2023	Dec 22, 2023
Credit of Share (Tentative)	Dec 26, 2023	Dec 22, 2023
Listing date (Tentative)	Dec 27, 2023	Dec 26, 2023
Anchor Lockin End date 1	Jan 21, 2024	Jan 20, 2024
Anchor Lockin End date 2	Mar 21, 2024	Mar 20, 2024

Financials

Happy Forgings IPO P/E ratio is 36.45, as compared to Suraj Estate Developers IPO P/E ratio of 35.64.

Happy Forgings IPO

Suraj Estate Developers IPO

Financial

Happy Forgings Limited Financial Information (Restated Standalone)

Happy Forgings Limited's revenue increased by 38.81% and profit after tax (PAT) rose by 46.67% between the financial year ending with March 31, 2023 and March 31, 2022.

Period Ended	30 Sep 2023	31 Mar 2023	31 Mar 2022	31 Mar 2021
Assets	1,489.80	1,326.17	1,129.87	876.38
Revenue	675.73	1,202.27	866.11	590.81
Profit After Tax	119.30	208.70	142.29	86.45
Net Worth	1,103.33	988.31	787.62	645.16
Reserves and Surplus	1,088.25	978.66	769.72	636.21
Total Borrowing	258.97	218.52	240.35	153.47
Amount in ₹ Crore

Suraj Estate Developers Limited Financial Information (Restated Consolidated)

Suraj Estate Developers Limited's revenue increased by 12.41% and profit after tax (PAT) rose by 20.98% between the financial year ending with March 31, 2023 and March 31, 2022.

Period Ended	30 Jun 2023	31 Mar 2023	31 Mar 2022	31 Mar 2021
Assets	994.73	942.58	864.00	792.00
Revenue	102.81	307.89	273.91	244.00
Profit After Tax	14.53	32.06	26.50	6.28
Net Worth	86.11	71.39	39.16	29.15
Reserves and Surplus	70.29	55.48	23.32	22.94
Total Borrowing	598.50	593.09	638.16	600.48
Amount in ₹ Crore

Promoter Shareholding (Pre-Issue)

88.24%

100%

Promoter Shareholding (Post-Issue)

78.60%

74.95%

P/E Ratio

36.45

35.64

Market Cap

₹8007.42 Cr.

₹1597.00 Cr.

ROE

21.12%%

58.18%%

ROCE

24.24%%

21.93%%

Debt/Equity

8.31

EPS

₹23.32

₹10.10

RoNW

21.12%%

58.18%%

Shares Offered

In the Happy Forgings IPO retail investors (RII) are offered 41,53,031 shares while in Suraj Estate Developers IPO retail investors are offered 41,53,031 shares. Qualified institutional buyers (QIB) are offered 23,73,160 shares in Happy Forgings IPO and 22,22,222 shares in Suraj Estate Developers IPO.

	Happy Forgings IPO	Suraj Estate Developers IPO
Anchor Investor Reserveration	35,59,740 shares	33,33,333 shares
Market Maker Reserveration
QIB	23,73,160 shares	22,22,222 shares
NII	17,79,870 shares	16,66,666 shares
RII	41,53,031 shares	38,88,889 shares
Employee	0 shares	0 shares
Others
Total	83,06,061 shares	77,77,777 shares

Bids Received (Subscription)

Happy Forgings IPO subscribed 82.63x in total, whereas Suraj Estate Developers IPO subscribed 16.57x.

	Happy Forgings IPO	Suraj Estate Developers IPO
QIB (times)	214.65x	25.74x
NII (times)	63.45x	20.02x
Big NII (times)	69.87x	18.37x
Small NII (times)	50.61x	23.31x
RII (times)	15.40x	9.85x
Employee (times)
Other (times)
Total (times)	82.63x	16.57x

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